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    Vignesh is a young journalist with a decade of experience. A proud alumnus of IIJNM, Bengaluru, he spent six years as a Sub-Editor for a leading business magazine, published from Kerala. His interest in futuristic technologies took him to a US-based software company specialising in Web3, Blockchain and AI. This stint inspired him to view the future of journalism through the lens of next generation technologies. Now, he covers the crypto scene for Coinpedia, uncovering a vibrant new world where technology and journalism converge.

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    Altcoin Season Coming Soon as BTC Dominance Rejected at Key Level

    Story Highlights
    • Bitcoin dominance is decreasing, suggesting a potential shift towards altcoins.

    • Despite overall crypto market volatility, altcoins are showing signs of strength as Bitcoin's dominance weakens.

    • Analysts anticipate a possible altcoin season fueled by capital rotation away from Bitcoin.

    Bitcoin dominance is starting to fadeโ€”and the market is paying close attention. As BTC.D breaks below a key support level, analysts are eyeing a potential shift in momentum from Bitcoin to altcoins. For many, this could mark the beginning of a new altcoin season.

    Excited? We are too! Dive in.

    Market Cap Volatility Marks a Wild April

    April kicked off with a total crypto market cap of $2.63 trillion. But the first half of the month brought major volatility.

    Between April 5 and 7, the market dropped sharply by 9.8%, hitting a low of $2.31 trillion. It didnโ€™t stay there longโ€”between April 9 and 12, the market bounced back, climbing 11.71%. As of now, total market cap sits at $2.65 trillion, still 5.2% below this monthโ€™s high.

    Altcoins Follow the Trend

    Altcoins mirrored Bitcoinโ€™s moves, but with some promising signs.

    The altcoin market started April at $991.26 billion, then dropped to $831.83 billion by April 7. From April 9 to 12, it rebounded 11.6%. Today, the altcoin market cap is around $958.43 billion – about 7.8% below the April peak.

    Bitcoin Dominance Rejected at Resistance

    Looking at the four-hour chart, Bitcoin dominance peaked at 63.98% on April 7, meeting strong resistance. It briefly broke above that level on April 16 but quickly fell back. BTC.D now sits at 63.83%.

    If this trend continues, Bitcoin dominance could retest the monthly low of 63.16%โ€”a move that could fuel even more optimism around altcoins.

    Bitcoin Market Dominance

    Analysts Say Altcoins Set to Surge

     Crypto analyst Crypto Rover shared on X that we may see sharp capital inflows into altcoins soon. Since April 16, the altcoin market has grown by 1.99%. Interestingly, when Bitcoin dropped from $84,936.62 to $84,479.38, the alt market climbed from $947.58 billion to $948.94 billion.

    Top altcoins are already showing strength:

    • Ethereum (ETH) up 0.85%
    • XRP up 0.6%
    • BNB up 0.7%
    • Solana (SOL) up 2.7%
    • Dogecoin (DOGE) up 2.1%
    • Cardano (ADA) up 2.1%

    As Bitcoin dominance shows signs of weakening and top altcoins begin to climb, traders are watching closely. If this momentum holds, we could be at the start of a strong altcoin cycle.

    Momentum is building beneath the surface, and the market may be closer to a full altcoin breakout than it seems.

    Never Miss a Beat in the Crypto World!

    Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

    FAQs

    What is the Altcoin Season Index?

    The Altcoin Season Index measures the performance of altcoins relative to Bitcoin. A low index value, such as 15, can indicate potential for an altcoin rally. โ€‹

    How does Bitcoin dominance affect altcoin prices?

    Lower Bitcoin dominance often leads to capital flowing into altcoins, boosting their prices as investors diversify from BTC to major altcoins.

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